Lingen Bio Completes Series A Funding to Advance Personalized Cancer Treatment Solutions

On November 30, 2017, GenomiCare (Shanghai) Biotechnology Co., Ltd. announced the completion of its Series A financing, jointly participated in by Qiming Venture Partners, Xingze Capital, and Jiaxin Holdings. China Renaissance served as the exclusive financial advisor for this financing round. To date, GenomiCare has received a total capital injection of USD 25 million.

Lingxing Biotech is a precision oncology platform that brings together Chinese and American biomedical scientists and senior cancer specialists, dedicated to delivering tangible clinical benefits to cancer patients in China through genomic testing technologies and international medical resources. The company integrates precise treatment regimen selection, implementation, and monitoring, and offers whole-exome sequencing services to the clinical community., lifelong follow-up, customized circulating tumor DNA monitoring, and overseas resource matchmaking, among other world-class clinical decision support services and precision medicine solutions.

Founded in 2015 and headquartered in the Zhangjiang Hi-Tech Park in Shanghai, the company operates independent laboratories and medical testing facilities in Zhangjiang Pharma Valley (Shanghai) and Qidong (Jiangsu), respectively. It has also co-established a Precision Medicine Laboratory with the East China Industrial Research Institute of Life Sciences at Peking University. The company’s management team comprises senior executives from renowned domestic and international institutions, including Peking University, Harvard University, the University of California, the Chinese Academy of Sciences, and Fudan University. To date, Vazyme Bio has provided precision medicine services to nearly 3,500 patients in China.

According to Xu Qiang, Founder, President, and Chief Executive Officer of GenomiCare, the funds raised in this round of financing will be primarily allocated to the following areas:

1) Strengthen Leadstar’s internal capabilities to better provide comprehensive, round-the-clock management of precision testing and precision treatment for cancer patients in China;

2) Accelerate the nationwide promotion of Lingxing Precision Medicine’s business and advance strategic collaborations with major hospitals;

3) Integrate the most comprehensive genetic variant data with patient pathological information and lifelong follow-up to create a complete “Genetics + Clinical” precision medicine database.

Ge Feng, CEO of Jiaxin Holdings, stated: “Leadstar Bio has always been committed to delivering tangible clinical benefits to cancer patients, placing significant emphasis on the needs of both Chinese cancer patients and physicians. We believe that through the team’s continued efforts, Leadstar’s comprehensive capabilities will achieve further breakthroughs, thereby advancing the development of precision medicine in China and enabling more Chinese cancer patients to derive clinical benefit.”

Ms. Huang Lu, Managing Director of Morningside Venture Capital, shared Morningside’s endorsement of LinkStar: “We strongly align with LinkStar Biopharma’s business philosophy and the execution capabilities of its team. Among the many clinical medical service companies, LinkStar Biopharma’s business model is genuinely centered on patients’ clinical needs, aiming to provide precision diagnosis and treatment services with tangible clinical value. We believe this forms the foundation for a medical service company to sustain long-term competitiveness and vitality.”

Liu Wenyi, Founding Partner of Xingze Capital, which participated in this round of investment, stated: “Xingze is a comprehensive startup ecosystem. We aim to help scientists bring their research achievements to market. Leading Star Biology boasts the most distinguished scientists in the field of precision oncology. They not only possess profound expertise in their specialized areas but also demonstrate exceptional entrepreneurial qualities—a rarity in today’s biopharmaceutical industry. We hope to assist them in realizing their entrepreneurial dreams and addressing the most urgent medical needs of cancer patients worldwide through all-around support, services, vision, and resources.”

Xie Yijing, Managing Director and Head of the Healthcare and Life Sciences Group at China Renaissance, stated, “LinkStar integrates precision oncology diagnostics with the matchmaking of precision treatment resources, committed to delivering tangible clinical benefits to patients. With an experienced, world-class management team and a scientific advisory board composed of top-tier global experts, we believe LinkStar will emerge as a leader in China’s precision oncology sector. China Renaissance is honored to have assisted the company in successfully closing this round of financing.”